Getting my act together

<b>Gutsy</b>, your journal here is a positive effort towards self-discovery. From what you share with us, you are a struggling trader with self-imposed deadlines to create success. Or else.

Every person reading your thread either has or should have great sympathy ~ empathy for your plight. That goes without saying.

But... the market is emotionless and absolutely does not care. All of the travails you listed as befalling you in the past few years are totally irrelevant to the markets. That won't earn you one dime of profits nor give one moment's break, plain & simple.

*

From what you describe in your journal, you have absolutely nothing positive in your favor specific to successful trading. A list of what you've shared:

#1: Poor mental outlook
#2: Poor physical health
#3: Sleep deprivation
#4: Numerous distractions outside of trading
#5: Low capitalization
#6: No viable trading method for success
#7: Self-imposed performance deadlines
#8: Poor self-discipline, trading and outside of trading

The list could be added to, but that's enough. In all honesty, what can you add to this ledger on a positive expectancy side?

You began this thread talking about how the professional trader let you sit in on some of his operation. At this point in time, can you aptly follow the approach he traded? Or are you basically clueless to what he did?

Unless that trader mentored you in precise, detailed and extended fashion, your time spent with him was nothing more than entertainment. Unless you can replicate his methods for consistent success, what did you learn?

**

Bottom line? We all would love to see you succeed. That goes without saying. Likewise, you have made absolutely no case for a glimmer of hope as a successful trader on the current path you tread.

Holding a "performance gun" to your head on every trade you take loaded with bullets listed above will never allow you to succeed as a trader. Clinging to a false hope will only delay the inevitable failure.

If you wish to succeed, you must stop everything you are doing now and change paths 180 degrees. This is no revelation: you are the first person to admit that in public yourself.

I truly hope & pray you immediately stop your road to inevitable ruin, and rebuild your overall approach to life from scratch. Unless and until you do that dificult task, the end of this story has been written long ago.

Very Best Wishes In Life,
Austin
 
Quote from BoyBrutus:

Trying to visualize all the things that can happen once in a trade and imagining I'm doing my trading calmly doesn't work.


Gutsy

Have you tried self hypnosis. You need to imprint some strong suggestions into your subconscious.

Look at this site.

http://www.bcx.net/hypnosis/self-hypnosis-start.html

Detail your list of positive suggestions and spend 15 minutes doing it.

Before you go to sleep when lying in bed go through your suggestions and lastly how your going to have a great relaxing sleep and awake feeling refreshed, energized and positive about the day.

Lastly before trading spend 10 minutes doing your routine and visualize your profit for the day and how you will achieve it. How you will come back form a losing trade and how you will stay focused and act decisively when you see your setups.

Also cut out the Pepsi and sugar, drink water and fruit juice. I will write some things on diet and other stuff on the weekend.

Thank you for something to try. I'll try the self-hypnosis and see if it helps.
 
Quote from BoyBrutus:

Gutsy

Your family has had its share of bad luck.

Do you feel bad luck is just around the corner just waiting to hamper your next advancement ?


No, I believe shit happens. How you respond to the events is a individuals choice.



Do you have issues of self worth? This can run deep and is a reason why people seem to make no progress when they have the tools and knowledge to do so. There is always a reason, unfortunate event or excuse for the lack of progress. When there is progress events unfold that always bring you back to the start.



Sure I have issues of self worth. I'm worth a ton more than I'm making. I have unused skills and unfulfilled dreams. They have a parade of homes in our town where builders showcase their work. Only homes I'll look at are all over $1 mill.



Having a running start and ending in the current position you are in is a characteristic of this.

You lost your 200k job and have been doing night shift at the store for 2 years. These events may have shaped your outlook and reinforced some subconscious thoughts (self worth) you are having. You also are looking at a big rig license as a fallback.
Is there a reason why your trading profits dont seem to pass your daily job pay? What type of job and pay do you deserve?



I was laid off with thousands of other people at the time. That's life. I'm not owed a future and I don't believe I owe one to anyone other than my family. My job didn't affect me because I knew I was really good at my work. I took the night job so I could work doing contracts during the day. That went well but I still had a slow bleed in our bank account. If I ever get my act together I don't plan on stopping at 1k/day in income. If my nerves could quiet down I have no doubt within a period of a few months I'd be making 3 - 5k per-day in profit. That's about what I expect once I get it together.



Just some things to ponder and if you think they may be applicable we can discuss it further. I am no expert on any of these points but since no one else has asked ....

Thanks, I've thought about them before. The only area I still feel bad is that I didn't wake up while my daughter was being attacked. Since then, I sleep lightly and seldom get more than 3 hours of good sleep. I'm also a bit jaded about the courts. I still remember the judge saying "I can't give your family a order of protection. Another girl already has one against him. Do you expect me to ruin his life?". It was about all I could do to keep myself under control when he said that. I'm hoping that by just trading some of the emotions will be reduced. I'm also hoping that once I start going to a positive cash flow, my nerves will quiet a bit more.
 
Quote from austinp:

<b>Gutsy</b>,
Bottom line? We all would love to see you succeed. That goes without saying. Likewise, you have made absolutely no case for a glimmer of hope as a successful trader on the current path you tread.

Holding a "performance gun" to your head on every trade you take loaded with bullets listed above will never allow you to succeed as a trader. Clinging to a false hope will only delay the inevitable failure.

If you wish to succeed, you must stop everything you are doing now and change paths 180 degrees. This is no revelation: you are the first person to admit that in public yourself.

I truly hope & pray you immediately stop your road to inevitable ruin, and rebuild your overall approach to life from scratch. Unless and until you do that difficult task, the end of this story has been written long ago.

Very Best Wishes In Life,
Austin

I figured my odds of ultimate success at 100:1. Looks like you're taking the 100 side. The one positive I have is a workable and tradable method. Just because it's complex and can't be automated doesn't mean it's not useful. I also have stellar credit. I have a 50k unused line of credit which I could use for trading, but I'll only tap it after I'm consistently profitable. I'm certain I can achieve the 2k/month level of profitability with 2 ES contracts. Once I stop bailing on winning trades, I'm pretty sure I can do the same with 1 ES contract. I don't have a poor mental outlook. Just some anxiety issues that I'm sure others have faced. My trading has been net profitable since I started back in August and I'm hoping to achieve progress as fast as I can. If unsuccessful, that's ok too. I have a backup plan, and while it isn't great, at least I won't be checking out the local homeless shelter anytime soon.

It should come as no surprise that I'm ignoring your give up and bail attitude to my trading. I've beaten 100:1 odds before and this is just another small challenge.

Good luck to you in your life as well,
Gutsy
 
<i>Once I stop bailing on winning trades, I'm pretty sure I can do the same with 1 ES contract.</i>

Yes, trading really is simple as that. Hold the winners fearlessly (dare I say, gutsy fashion?) and you will reach every financial goal in mind.

All you really need to do is stop bailing out of productive trades while keeping normal losses contained. The very moment you accomplish that, methodical trading success is yours forever :>)
 
the buy setup is internals going down and futures going up.

the rationale is institutions buying futures before they buy their intended basket of stocks.

why don't instiutions wait until the end of selling and let the futures price drop and then buy them?

thx. all the best.
 
Quote from gutsytrader:

I'll spare everyone the minute to minute drama.

+112.92

You're doing well.

Maintain your discipline and one day you'll look back and wonder what the fuss was about.
 
Gutsy,

since you are doing such long hours, why not trade the morning and ride as best you can your positions until lunch time.

By finishing early, you can get more sleep and this will help you tremendously...

Sleep deprivation seriously affects performance in any field, let alone trading futures... and I know this from first hand experience - have been a light sleeper for many years...

Cheers.
 
the fx account margin requirement is minimal........demo trade.......use your eyes ........go with price direction.....too much thinking......jmho.......best wishes no more posts from me......
 
Back
Top